In this blog space we have discussed the 
EURUSD and 
DXY index on 9th Feb. We said it looks like the EURUSD is forming a local bottom, and the chart was showing lot of resilience. And we said that the next stop on EURUSD will be 1.062 which it has recently surpassed. We also prophesized that because 60% of the DXY is EUR we might see more weakness in USD.
And now we see theDXY is below its 0.612 Fib retracement level @ 105. In the short term it is heading to 0.5 in the short term @ 102. We have seen that the index always bounced back when DXY is @ the psychological level of 100. If the DXY breaks below the support level @ 100 then it might go to 99 and eventually to 95.
But this USD weakness is not bringing any good news to the Stocks and Crypto. We have to wait until we see a final capitulation in $DXY.
IfDXY goes to 95 then EURUSD above 1.15.
EURUSD and DXY index on 9th Feb. We said it looks like the EURUSD is forming a local bottom, and the chart was showing lot of resilience. And we said that the next stop on EURUSD will be 1.062 which it has recently surpassed. We also prophesized that because 60% of the DXY is EUR we might see more weakness in USD. And now we see the
DXY is below its 0.612 Fib retracement level @ 105. In the short term it is heading to 0.5 in the short term @ 102. We have seen that the index always bounced back when DXY is @ the psychological level of 100. If the DXY breaks below the support level @ 100 then it might go to 99 and eventually to 95. But this USD weakness is not bringing any good news to the Stocks and Crypto. We have to wait until we see a final capitulation in $DXY.
If
DXY goes to 95 then EURUSD above 1.15. 
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.